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20121201
20121231
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run by monti. berlusconi hinted he may return to politics after stepping down last year. claudia joins us in milan. a number of reports suggested this may not upset investors too much just because we were going to have elections anyway, it doesn't bring it forward a lot earlier. is that the sense that you're getting? >> yes, it doesn't really change in terms of the timing. it just gives you an idea, though, of where berlusconi stands and what the situation is like within that central right next. the pdl has made it clear that there is a serious disagreement within the party. they were set to go forward with some primaries which is what the center left did to elect their candidate. and now that berlusconi has abruptly announced that he's going back, that tells you there is a lot of tension. he's trying to define the support, enough support in order to have some say in parliament even after the elections. an apparently he probably was not able to get that within his own party. as far as the situation overall is concerned, we did see the spread go higher and there are concerns. the minute
that italy can go back on to a sustainable growth path and -- >> is that with or without berlusconi involved? because end of february are these elections. >> yes. the elections are, of course, more the campaign heading into the elections with all these noises, especially the end ecb noises that we hear from italy. that's going to cause concern that if italy does need help, how likely are they going to be to get it? in the years from 1993 to 2007 italy brought down its debt to gdp ratio to almost 100% and half of that time berlusconi is prime minister. it's not like berlusconi has a record of fiscal spending. >> no. but i guess also the times were different. >> the times were different but the interest rate was slightly higher than it is now. but the primary surplus of the country ran over that period which was an acceptable 3% on average is already right now reached once again. so all the parameters are in the right place and the only thing the next government needs to do is actually nothing. if it does nothing, if it doesn't reverse the reforms -- >> what's interesting is what berlusconi is
, berlusconi and the german chancellor merkel were present. a lot of expressions of support for a monti candidacy here. what does this imply? what are people making of this? >> it's one of these things. in all honesty, we thought that the era of berlusconi had been done and dusted and we had opened a new page. but, okay, sometimes there are some comeback kids and berlusconi could be one of them. he did say that if monti would stand, he would resolve his claim to anything, but he wanted to prevent a shift to the left in italy. that's something angela merkel could support. although she might have to face her own transition to the left as we face elections in september. it's hoped mario monti would stand again and would stay in place because clearly that was the sort of work in progress that worked well. down with the euro and italy has to walk its own way. that is not something that we would like to hear in the eu eurozone or in berlin. >> silvia, thank you so much for your time. >>> now, a weak ahead of the person of the year, the winner, north korean leader kim jong un. the magazine did
after the party of sylvia berlusconi withdrew support for monti's government last week. berlusconi has indicated he will run for leadership again. cnbc's carolin roth will join us from italy with the latest in a few minutes. when i was over there, i had to have the -- all the political signs translated because there's a picture of monti sitting under a beach chair drinking a drink and all the text was send monti to the beach. they already didn't like him. >> he had very high disapproval ratings. i remember last summer i had seen that somewhere. >> they want to send him to the beach. the major european averages at this hour, there they, they're all down. not great in france, but germany down about .7% and the ftse down fractionally. other news out of europe, debt tieback for from an day to receive additional buyback offers. those would be at deeply discounted prices and that would help lower the country's debt lead. >>> in asia, stocks touched a 16-month high and closed mostly higher on the session with good gains, as you can see, with the kospi up the most, 1.5 points. >> strong nebs o
-old berlusconi has announced an engagement to his 27-year-old girlfriend live on italian television. the billionaire revealed that he finally felt, quote, less lonely thanks to his relationship. it will be mr. berlusconi's third marriage provided he can reach divorce arrangements from his current wife. >>> now as investors prepared to head home for the long christmas holiday, we're taking a look at what is in store. a slow grind to recession, that man is david evans, chief financial economist at jeffries. thanks for joining us. when do we come out of recession in europe? >> the uk at the moment is showing clear signs of recovery. i think if we can through the first quarter of nkts year, it all will be recovering. i don't care expect this to be a real turn until the second half. as we go into the second half of next year, it will become clearer. even the eurozone is recovering. within that, you'll have very much the laggards. france won't do particularly well, but germany and italy maybe next year have a potential surprise on the upside. >> how much of a surprise? >> it will not be a
% of italians are against him running for a second turn. meanwhile, sylvia berlusconi promised yesterday if he's voted back in, he'll reverse some of monti's policies. >>> in tokyo, the newly elected prime minister is meeting with the head of the central bank. also, we'll head out to frankfurt where do you have ya mark may have dodged another bullet. >>> then it's over to hong kong. aig sells its remaining stake in aia and formally ends a partnership dating back 100 years. all of that straight ahead. i always wait until the last minute. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express ecember 22nd for christmas delivery. >>> the latest numbers out of china, in the first 11 months, foreign investments led. investment from the u.s. did pick up. . on the equity front, the shanghai composite has been powering ahead up over 9% just this month. with external factors impeding economic growth, the long-term pir r picture may not be rosy. china is the only market of the year like
this morning. back to you. >> did you see the -- berlusconi saying that italy might have to leave the euro -- i love this guy. and -- >> joe, i'll tell you, he has a point. a lot of people say if italy wasn't in the eurozone now, if you were to analyze the italian economy, current account surplus or ability to get there, it's competitiveness, that actually it would be in a decent position on its own. you know, that's a counter factual that may not be worth exploring. although berlusconi's clearly exploiting that perception. >> if germany doesn't agree to have -- to be a real central bank. he's looking good, 76. he's going to run again. his hair is jet black. and i think he's still -- >> i'm sure it's natural. >> you want to avoid him if you can. like -- keep your distance if you would. >> no, i don't have to -- joe, he's engaged now. he has another -- a new wife. >> i didn't realize that. then definitely. >> yes. i'm devastated -- >> the world's women are safe now. he's engaged. now, in february, there's another election. this is what i love -- he's way behind the leading party which has 30%. t
for a potential return to politics of silvio berlusconi. again, not clear exactly why the post there has -- there's been a postponement of the end of the year press conference. that is the case as we are learning this morning. >>> moving on to shares in ubs which are at the top of the smi in zurich after the bank announced a settlement with u.s., u.k., and swiss regulators over its role in the libor fixing scandal. ubs will pay a total fine of $1.5 billion after admitting to manipulating the rate. as well as pleading guilty to charges of fraud and bribing brokers. the swiss bank says the fine will lead to a greater than expected fourth quarter loss. but that it will not need to raise new capital. carolyn, the response here by shares positive leading, in fact, the borce as we see it. >> ubs is the better performer on the smi, up by 2.3%. yes, the story, you know, has leaked over the last couple of days. we thought the loss would be bigger. maybe -- or the fine, rather, would be about $1.6 billion. now it's only $1.5 billion. still, this is a very, very hefty fine. i mean, it's three times the amou
Search Results 0 to 7 of about 8